FT learned about the upcoming US countermeasures to confront China

The United States intends to increase its reserves of critical minerals to $1 billion to counter China's dominance in the extraction of rare earth metals. This was reported on October 12 by the Financial Times newspaper.

It is noted that the United States is going to purchase cobalt for up to $500 million, antimony for $245 million, tantalum for $100 million and scandium for $45 million.

On October 10, US President Donald Trump announced the US's readiness to impose increased duties on goods from China in response to Beijing's decision to restrict exports of rare earths. In addition, he said that the United States could limit the supply of not only software to China, but also many other goods, including airplanes.

On October 12, the Ministry of Commerce of the People's Republic of China announced its readiness to respond to the US 100% duties. It was clarified that in response to US export controls on rare earths and other goods, China announced its own export control measures, which is part of a legitimate and moderate national security policy.

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